The global AC drives market size was USD 10.39 billion in 2018 and is projected to reach USD 15.62 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period. The rising awareness about green energy sources across the world is transforming the energy and power industry. The trend of green energy is emerging on account of increasing environmental pollution from traditional energy resources. Governments are playing a significant role in conducting awareness programs about clean energy. Fortune Business Insights in a report, titled “AC Drive Market Size, Share and Global Trend Forecast till 2026” published the above information.

Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.

Top Players Overview:

Some of the leading players operating in the global AC Drive market include;

ABB Ltd.

Siemens AG

Danfoss Group

Mitsubishi Electrical Co. Ltd.

Fuji Electric Holdings

Emerson Electric Co.

Hitachi Ltd.

Parker Hannifin Co.

Toshiba International Corporation Ltd.

Schneider Electric

Rockwell Automation

Yaskawa Electric Corporation

WEG S.A

Hiconics Drive Technology Co. Ltd.

Parker Hannifin Co

The rising instability in crude oil prices is expected to positively impact the growth of the AC Drive Market. Rising privatization and relaxation in the FDI norms are factors enabling growth in the market. Also, governments are heavily investing in power projects, which in turn, may fuel demand for energy and power plants across the globe.

Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.

The increased spending on oil and gas across the world is another factor likely to drive the AC Drive Market. Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fueling demand for energy and which is expected to drive the AC Drive Market.

Key Segmental Overview:

By Voltage

By Type

By Application

By End User

By Geography

The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive the competition and maintain their stronghold.

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